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Explained: Why crude oil prices tumbled over 9% to below $90/bbl in one day
Crude oil prices plunged more than 9% to $88 a barrel after the US paused strikes on Iran and Tehran signalled restraint, boosting hopes of de-escalation. Reports said China is backing Pakistan's efforts to revive US-Iran peace talks, easing fears of prolonged supply disruptions. The sharp decline in oil prices provided significant relief to global equity markets.
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gulfnews.com
Oil tumbles as Washington signals holding back military action to allow room for diplomacy, reducing immediate concerns of a broader…
Renewed diplomacy fuels expectations of more Iranian barrels hitting global markets
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cryptobriefing.com
Oil prices drop 5% as Iran signals halt to attacks if US pause holds
Oil prices dropped 5% as Iran signaled a halt to attacks if the US pause holds. Crude oil reaching a new all-time high by September 30 at 6.2% YES.
